Property taxes keep county budget stable

July 07, 2010

Valencia County brought more than $9.7 million in property taxes to the county’s budget during the last fiscal year, which helped the county end the fiscal year with an estimated $892,000 budget surplus.

County Business Manager Kenny Griego said Treasurer Dorothy Lovato and her office were responsible for the high property tax revenue.

During the final months of the fiscal year, Lovato implemented a tax collection program that targeted delinquent accounts.

“They did a great job,” Griego said.

He said the county is “suffering,” however, because the State of New Mexico is slowly reimbursing the county’s portion of the revenue. He also said gross receipts are down.

The county ended with total revenues, including gross receipts and fees, of more than $13.7 million.

Despite the good news, Commissioner David Medina urged caution.

“We’ve got to keep our expenditures down,” he said.

Posted in: Budget